Singapore MAS Proposes Stablecoin Regulatory Framework
The Monetary Authority of Singapore (MAS) has launched a public consultation on proposed amendments to the Payment Services Act of 2019, aimed at formalizing stablecoin regulation in the city-state.
The proposals seek to convert existing policy guidance into enforceable legislative rules, covering aspects such as reserve backing, redemption at par, disclosure requirements, and capital standards for issuers. This move comes as stablecoins increasingly use real payment rails, rather than just crypto exchanges, prompting regulators to update the rulebook.
The consultation period will run until October 16, 2026, giving industry participants and the public a chance to provide feedback before the rules are finalized. The proposed framework is expected to reduce ambiguity for users, issuers, and financial institutions, providing a clearer legal footing for regulated stablecoins in Singapore.